Bonds could bring roads off back burner

ILLINOIS (WCIA) -- The state just sold $750 million worth of bonds to pay down its debt. Bank of America's Merrill Lynch won the bid among 18-others.

The borrowed money will be used to fix failing infrastructure around the state including bridges and roads which might finally get the road work they need.

It's been nearly a decade since the state passed a capital plan.

The bonds were sold at an interest rate of roughly 4.4% and should reach maturity in 25-years. Many say the state's income tax hike is to thank.


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